Zimbabwean Investors Buy Stake in Murray & Roberts, Herald Says

A group of Zimbabwean investors bought a 46.6 percent stake in Murray & Roberts Holding Ltd. (MR) from the construction company’s South African parent and Trinvest, the Herald reported, citing the Zimbabwe Stock Exchange.

The transaction took place in a “special bargain” on the Zimbabwean bourse, with 99.8 million shares changing hands at 1.47 U.S. cents each, compared with the 7 cents the stock last traded at, the Harare-based newspaper said.

The group of investors that bought the stake includes Canada Malunga, the former chief executive officer of Murray & Roberts Zimbabwe, and Paddy Zhanda, a local businessman, it said.

Ed Jardim, a spokesman for Johannesburg-based Murray and Roberts Holdings Ltd., didn’t immediately respond to voicemails messages on his mobile and office phone and an e-mail requesting comment.

To contact the reporter on this story: Godfrey Marawanyika in Harare via Nairobi at pmrichardson@bloomberg.net.

To contact the editor responsible for this story: Paul Richardson at pmrichardson@bloomberg.net.

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